Valkyrie Submits Spot Bitcoin ETF Application as Bitcoin increased by almost 20%, surpassing $30,000
Valkyrie, a prominent financial company, has recently applied to the U.S. Securities and Exchange Commission (SEC) to launch a Bitcoin Exchange-traded fund (ETF). The company submitted the registration for the spot Bitcoin ETF on June 21 and aims to have it listed on the Nasdaq exchange with the symbol BRRR.
Valkyrie has been actively involved in introducing Bitcoin-related derivative products, establishing themselves as an early participant in this market.
In October 2021, the Valkyrie Bitcoin Strategy Exchange Traded Fund (ETF) was launched in the United States. Additionally, the company introduced the Valkyrie Balance Sheet Opportunities (VBB) in December of that year. However, in October 2022, the VBB was discontinued.
SEC Under Scrutiny: Market Awaits Regulatory Action:
Companies like Valkyrie, BlackRock, Bitwise, Invesco, and WisdomTree are actively seeking approval for Bitcoin ETFs. These ETFs aim to offer investors easier and regulated access to the Bitcoin market. This trend reflects the growing and maturing nature of the industry, with ETFs becoming an important option for those looking for regulated exposure to Bitcoin.
In the past, the US SEC has rejected several proposals for Bitcoin ETFs due to concerns about investor protection. However, there is optimism among market participants that the current landscape could be different, largely due to the involvement of BlackRock.
When BlackRock submitted its application for a spot Bitcoin ETF, the price of Bitcoin experienced a notable turnaround, rising by nearly 20% and surpassing the $30,000 mark. This development has also attracted significant attention from large-scale investors. As of the current moment, Bitcoin is being traded at $30,090, according to data from CMC.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
Follow Cryptos Headlines on Google News
Join Cryptos Headlines Community
